GM Says It Will Meet China’s Electric Car Quotas By 2019

2 days ago by Mark Kane 4

Buick Velite 5

General Motors says that it will be able to comply with China’s stringent quota levels of New Energy Vehicles (aka plug-in vehicles) that will be required from 2019, starting at level of 10%.

The Cadillac CT6 Plug-In

GM’s China representatives said that the company’s joint ventures will generate enough NEVs credits to meet the requirements, or even exceed them, on it’s own without having to purchase credits from others.

The Chinese Government requires that 10% of annual vehicle sales to be offset with “New Energy Vehicle” (AKA plug-ins) credits in 2019 (up to several credits can be earn with 1 plug-in sales).

General Motors operates in China through two joint ventures – one with SAIC, and the second one with SAIC and Guangxi Automobile Group (formerly known as Wuling Motors).

GM China chief Matt Tsien said:

“I can’t give you any specific (NEV production and sales volume) numbers other than to say that through the complicated formula we will either meet or exceed.”

Currently there are three plug-in cars being offered by GM in China: Cadillac CT6 Plug-In, Buick Velite 5 (Chevrolet Volt) and the all-electric Baojun E100.

By 2020 GM will introduce at least seven more plug-ins in China.

source: Reuters

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4 responses to "GM Says It Will Meet China’s Electric Car Quotas By 2019"

  1. G2 says:

    GM knows when it has a gun to its head and can then ‘choose’ to do the right thing. Seatbelts and CAFE standards are good examples in their history.

    1. JeremyK says:

      We all want more EVs faster, but if it was your money, wouldn’t you want to be careful how you spent it?

      Sales of SUVs and trucks are powering future product development. GM doesn’t have a constant trickle of donor money from California investors to live off of like some.

  2. Someone out there says:

    Go GM! Show those commiefornians how to make proper EVs!

  3. ffbj says:

    Good, as they were the main impetus behind getting the 2018 8% requirement quashed.

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